You are here: Home - Saving & Banking - News -

Rogue trader Leeson still up for a punt ‘with own money’

Written by:

The ‘bete noire’ of the UK investment world – Nick Leeson – has resurfaced and confirmed in an interview with the BBC that he still plays the markets, albeit with his own money, and not at the levels that infamously brought down Barings Bank in the mid-’90s.

Leeson is now general manager of Irish football club Galway United and has been in the west of Ireland since 2005. However, he still found time to “dabble” in currency dealing with his own money, but would require authorisation to rejoin a bank to ply his former trade.

“Asking Nick Leeson to come back into the saving and investment community would be like asking Dracula to head up the Blood Transfusion Service,” said City analyst Colin Perry.

“Don’t forget that he single-handedly destroyed a City bank with a pedigree going back hundreds of years and although you can argue that his managers were equally culpable it would hardly engender confidence if anyone took him on now.”

Leeson was banged up in a Singapore prison for three-and-a-half years after being found guilty of fraud. The saving and investment community was flabbergasted when he brought down Barings with highly leveraged currency dealings. The bank was subsequently sold to Dutch bank ING for £1.




Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
London a capital spot for increasing wealth

London - home of UK saving and investment in many respects - is set to outstrip Paris and Chicago as...